Synopsis
Mexican fintech firm Kapital may go public within three years, according to CEO Rene Saul. He mentioned plans for a possible dual listing in both Mexico and the US. Kapital recently became a unicorn, valued over $1 billion, after raising funds and expanding through acquisitions in the traditional banking sector.
Mexican financial technology firm Kapital could pursue an initial public offering (IPO) within the next three years, Chief Executive Rene Saul said on Thursday.
“In the next three years we would be looking for the IPO,” he said at a press conference, adding that he would favor a dual listing in the U.S. and Mexico.
Kapital reached a valuation of more than $1 billion last month, achieving so-called “unicorn” status after a new funding round and a string of acquisitions in more traditional banking.
In August, Kapital said it would acquire the brokerage, asset management and operational banking businesses of Mexican financial group Intercam.
Intercam was among firms targeted by U.S. sanctions in June on “primary money laundering concerns
Source: www.economictimes.indiatimes.com